The Edge says yes, Volkswagen says no!

The Proton Saga continues! The Edge carried a report today that Volkswagen and Proton will be forming a new joint venture company to carry out joint model development and marketing, with Volkswagen holding 51% as well as manufacturing, research and development and engineering division control, while Proton holds the remainder 49% and control of other parts such as sales.

This report caused Proton shares to rise as much as 21%. The same report also mentioned that Sime Darby Berhad will be taking over Khazanah Nasional’s 43% share in the company, something that comes as a surprise to me as Sime Darby has been quiet all this while, with the local forerunners seen as DRB-HICOM and the Naza Group. It is said that this deal will be finalised during the Khazanah Nasional and Volkswagen meeting in New York while Khazanah officials are there attending a roadshow organised by a Malaysian stockbroker for US investors.

So far, attempts by papers to contact Sime Darby, Khazanah Nasional and Proton spokespersons were unsuccessful. Before you celebrate, here comes the punchline – Volkswagen spokesperson Andreas Meurer says “This report is definitely wrong and only rumor without substance. We will have a round of talks soon”, referring to The Edge’s report.

The thing is, is there truth to The Edge’s report or not? If it is true, is Volkswagen is merely steering clear of rumours and denying anything before things are concrete? I certainly hope so.

After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history. An avid electronic gadget aficionado as well as big-time coffee lover, he's also the executive producer of the Driven motoring TV programme.

I'm not sure is true or not, but it doesn't look likely that Proton will give out his 51% share so easily, without government kacau. But I sure excited if the deal get a green light. Not sure is good news or not, but I guess it will be better then what proton if facing right now.

It would be very, very intersting to know how many shares in Proton EPF bought just before this 'leak' occured, and if their genius fund manager managed to sell them on again before VW allowed the truth out! It happeneded earlier this year already!

Ai yo yo…why need to ding dong so long. Chrysler was sold in a short time only. Volvo going also for BMW …how come Proton errrr what Proton ??? what is there so important for the global world. Maybe for some people in Bolehland will be affected la.

Hmmm. I had notice all this while that THE EDGE had been one of the speculators in the sharemarket. I think they are backed by certain organisation or institution or merely reporter's personal benefit. Very unethical. Full of lies actually……..Especially a reporter by the name of L**la Barr*ck, full of hearsay……….no facts………Disgraceful………

all these ding dong news is just for the G to hype up the marketshare.. this is the time they actually take advantage of the current uncertainties of proton view by the rakyat as one of their tools to make money for the up coming elections and of course indirectly profiting the cronies.. no matter what, if there is still no confirmed answers to the joint venture and with the date keep postponing, it means the G is still playing games..

But Digiman, if you read the article rendered by Reuters carefully, they did acknowledge that they got it sourced from The Edge. Refer to the statement :

"Quoting unidentified sources, the Edge financial daily said Volkswagen was likely to take a 51 percent stake in a new company into which would be injected Proton's key motor assets, such as manufacturing, research and development, and engineering."

"Sime Darby denied the report, Malaysia's government news agency reported, without citing anyone. Ahmad Zubir Murshid, chief executive officer of Sime Darby, said he was in a board meeting and was unable to talk when reached on his mobile phone.

Faridah Idris, a spokeswoman at Proton, declined to comment. Ahmad Shahizam Shariff, a spokesman for Khazanah, didn't answer a call to his mobile phone. "

The share of P1 rose from 5.30 to almost 6 yesterday.. and today from RM6-7.05 then come down to 6.45.. Wow.. rise almost RM1 perday… I think a lot of share holders decided to sell p1 share after hit the RM7 barrier.. I think P1 share is hard to buy now.. coz the price is consider high and dangerous.. if VW came out failure.. bye bye the current price.. Anywayz i really hope VW will take over P1 from that greedy G..

Damn, perhaps somebody should turn it into movie..Probably it would sell better and boost the Proton financial state back to black..hehe..just kidding.

With all the spinning, speculations and manipulations, more excited to keep watching their cha-chas and tangos !!

As for the Mr. Prime Minister, you can cha-cha and tango all night long from now on with the new partner..ooh yeahh. Good to you and congratulation !

So they will be no more cha-chas and tangos with Proton commencing this Saturday. And at least by next week, we'll be hearing to new level of progress about Proton. Gosh..What a perfect timing !!! BINGO…

Chris Yap of MTM said.. “Also, the question no one has asked yet is: “Will the new company, under VW ownership, enjoy any special privileges because it still uses the Proton brand?” Or will this be an opportunity for the government to declare the market open and no special privileges for anyone any longer?”..

It may fall to rm4.00 later then all the sucker 'babies' would sembah the sugardaddy G to pump in more money then make some more good news, then share go up, and the cycle goes on. Of course la…if you dont lose money how can i gain, said the puppetmasters at protong.

for me, proton is like ugly dumb man who wants "tackle" the brilliant and pretty girl vw and proton doesn't get it on..suddenly, proton told his father(gover) about his problem, and his father masuk meminang….but she is brilliant, of course she doesn't want that ugly boy with hingus meleleh…now, proton's father knows that his son will be rejected by mostly all girls in this planet, and father coverup the truth by saying at his son….still talk…. sedang cakap..talking happen…..sedang berbincang…..proton's father will say those miracle words until his son die….HAHAHAHA….KENE KENCING JE PROTON NI…..

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